Estate Planning is for Everyone

Estate planning is for everyone.  If you don't have a plan, then your state has a plan for you, but you probably won't like it.  Stay in control of how things are handled if you become disabled or die.  You can plan now for how health care decisions are handled, who has access to your information, and how your assets are handled.  Otherwise, the courts may make those decisions for you in a public and expensive way.  Davies Hood PLLC is a member of WealthCounsel, a nationwide collaborative of estate planning attorneys and wealth planning professionals dedicated to providing the best planning possible for American families.  Click here for more information about estate planning.   
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Reasons Everyone Needs an Estate Plan

1. Include instructions for passing your values in addition to your valuables.
2. Include instructions for your care if you become disabled before you die.
3. Name a guardian and an inheritance manager for minor children.
4. Include life insurance to provide for your family at your death; disability income insurance to replace your income if you cannot work due to illness or injury; and long-term care insurance to help pay for your care in case of an extended illness or injury.
5. Avoid chaos and discord among beneficiaries.
6. Provide for family members with special needs without disrupting government benefits.
7. Provide for loved ones who might be irresponsible with money or who may need future protection from creditors or divorce.
8. Provide for the transfer of your business at your retirement, disability or death.
9. Minimize taxes, court costs, and unnecessary legal fees.
10. Be an ongoing process, not a one-time event. Your plan should be reviewed and updated as your family and financial situations (and laws) change over your lifetime.